ACEN Corp. said its subsidiary ACEN Australia has secured 20-year long term energy service agreements (LTESAs) for two of its solar projects at the New South Wales (NSW) government’s first renewable energy and storage auction.
The company said LTESAs for ACEN Australia’s 720 megawatts (MW) New England solar project and 400 MW Stubbo solar project were secured through the NSW Consumer Trustee’s inaugural tender for renewable generation and long duration storage.
“The LTESAs help encourage investment in the renewables and storage capacity necessary to accelerate the transition to clean, reliable and more importantly, affordable power for Australians… The LTESAs offer the rights to access a minimum price for generation projects over a 20-year timeframe, which protects investors like us from the risk of unexpectedly low wholesale electricity prices,” said Anton Rohner, ACEN Australia chief executive officer, in a statement yesterday.
When fully operational, New England Solar and Stubbo Solar will supply renewable electricity to 435,000 homes and help NSW government’s emissions reduction target of 50 percent by 2030.
ACEN Australia has around 1 gigawatt (GW) capacity worth $1 billion in construction and more than 8 GW capacity in the development pipeline across Australia. -Jed Macapagal
